The younger Americans no longer resort to my mother or my father to help prepare 401 (k), understand their salary, or obtain investment advice – because artificial intelligence has become their new financial friend.
While artificial intelligence has taken roles ranging from the separation trainer from a health expert, tools such as Open Ai Chatgpt and Google’s Gemini are now directing young generations to address their financial problems, from credit card debts to choosing their latest shares and the Securities Union.
In fact, two-thirds of adults who used artificial intelligence to obtain financial advice say they have already followed them-and 80 % of these say they have helped their financial resources, According to a survey Of more than 1000 people by Intuit Credit Credit.
But here is hunting: it is far from being guaranteed. More than half of the respondents who used artificial intelligence made financial advice “a weak financial decision or error” based on what led them to do.
It is not surprising, that those who wear axial points on their financial erasure trip are the most common users of artificial intelligence, as about 82 % of Gen Z and Millennial Ai users go to more than that for money directions.
They have turned into artificial intelligence to obtain financial guidelines about a wide range of topics, from basic personal financing and financial education to more complicated matters such as tax deposit and investment. The most important areas of artificial intelligence users include setting goals and labor plans (35 %), budget management and expenses (34 %), improvement of savings (33 %), and stock market investment (32 %).
It also provides them with embarrassment not knowing all financial terms. Three out of four people who use artificial intelligence say it allows them to ask the financial questions they embarrassed to ask others.
People resort to Chatgpt to get more extreme scenarios such as becoming a millionaire – but not without danger
Amnesty International’s use of budget and investment is a modest use of the tool. Some take much further, and ask Chatgpt about how to become a millionaire.
On Tiktok, one of the creators called it “the 90 -day Millionaire Challenge”, which directs its viewers to use the Chatgpt advice caused by it as a financial freedom road.
Separately, another report from GoBankingrate She turned into Chatgpt for advice on how to become a millionaire from $ 60,000.
Chatgpt replied: “To become a millionaire at a salary of $ 60,000 is absolutely possible, but it requires discipline, time and smart financial decisions.” The report collapsed how you can build a millionaire life, with steps that include increasing savings, increasing your income, and more.
But experts warn that it is not perfect, and advice should be left for human experts instead.
For example, in a separate report 2025 of the web investment, the researchers asked Opon’s AAIPS Funding questions – then the answers were reviewed by experts in their company.
In the report, artificial intelligence responded to 35 % of the financial inquiries incorrectly, with one in three answers is hallucinations. At the same time, another Money experts She warned that the use of artificial intelligence to obtain financial advice may cause fraud and stealing identity.
Although the use of artificial intelligence of a group of life coaches has become increasingly common, 51 % of Americans are still concerned about security and privacy leakage when using AI, according to Intuit Credit Karma survey. For this reason, more than half of the participants are looking for financial advice and online information, and throughout the quarter they consider social media a strong source, followed by search engines, then finally, Amnesty International.
Did you turn to artificial intelligence to obtain financial advice? We want to hear from you. Contact: Jessica.coacci@fortune.com
The post 80% of millennials and Gen Z who used AI for financial advice say it helped—but not without risk: over half made a bad decision as a result first appeared on Investorempires.com.
